Does Baya Bar require parties to consent to do business electronically?
Baya_Bar Franchise · 2024 FDDAnswer from 2024 FDD Document
- 11.10. Consent to Do Business Electronically. The parties to this Agreement hereby consent to do business electronically. Pursuant to the Uniform Electronic Transactions Act as adopted by the State of New York, the parties hereby affirm to each other that they agree with the terms of this Agreement, and by attaching their signature electronically to this Agreement, they are executing the document and intending to attach their electronic signature to it. Furthermore, the parties acknowledge that the other parties to this Agreement can rely on an electronic signature as the respective party's signature.
Source: Item 23 — RECEIPTS (FDD pages 56–189)
What This Means (2024 FDD)
According to Baya Bar's 2024 Franchise Disclosure Document, the parties to the agreement must consent to conduct business electronically. The document states that by signing the agreement electronically, the parties are affirming their agreement to the terms and intending to attach their electronic signature to the document. Furthermore, all parties acknowledge that other parties to the agreement can rely on an electronic signature as the respective party's signature.
This consent is pursuant to the Uniform Electronic Transactions Act as adopted by the State of New York, indicating that Baya Bar aims to comply with electronic transaction laws. This clause ensures that electronic signatures and records have the same legal effect as traditional written signatures and documents, streamlining the agreement process.
For a prospective Baya Bar franchisee, this means that the franchise agreement can be signed and managed electronically, which can save time and resources. It also implies that Baya Bar is embracing modern, efficient business practices by accepting electronic signatures, which is a common practice in the franchise industry today.